10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENTS OF EARNINGS | |||
Period Ending June 30, 2022 10-K (Filed: Aug 24, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2022 | June 30, 2021 | June 30, 2020 | |
| Net sales | $ 17,737 | 16,215 | 14,294 |
| Cost of sales | 4,305 | 3,834 | 3,552 |
| Gross profit | 13,432 | 12,381 | 10,742 |
| Operating expenses | |||
| Selling, general and administrative | 9,888 | 9,371 | 8,637 |
| Restructuring and other charges | 133 | 204 | 73 |
| Goodwill impairment | 0 | 54 | 812 |
| Impairment of other intangible and long-lived assets | 241 | 134 | 614 |
| Total operating expenses | 10,262 | 9,763 | 10,136 |
| Operating income | 3,170 | 2,618 | 606 |
| Interest expense | 167 | 173 | 161 |
| Interest income and investment income, net | 30 | 51 | 48 |
| Other components of net periodic benefit cost | (2) | 12 | 4 |
| Other income, net | 1 | 847 | 557 |
| Earnings before income taxes | 3,036 | 3,331 | 1,046 |
| Provision for income taxes | 628 | 456 | 350 |
| Net earnings | 2,408 | 2,875 | 696 |
| Net earnings attributable to noncontrolling interests | (7) | (12) | (12) |
| Net loss (earnings) attributable to redeemable noncontrolling interest | (11) | 7 | 0 |
| Net earnings attributable to The Estee Lauder Companies Inc. | 2,390 | 2,870 | 684 |
| Net earnings attributable to The Estee Lauder Companies Inc. per common share | |||
| Basic (in dollars per share) | 6.64 | 7.91 | 1.90 |
| Diluted (in dollars per share) | 6.55 | 7.79 | 1.86 |
| Weighted-average common shares outstanding | |||
| Basic (in shares) | 360,000 | 362,900 | 360,600 |
| Diluted (in shares) | 364,900 | 368,200 | 366,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending June 30, 2022 10-K (Filed: Aug 24, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2022 | June 30, 2021 | June 30, 2020 | |
| Net earnings | $ 2,408 | 2,875 | 696 |
| Other comprehensive income (loss): | |||
| Net cash flow hedge gain (loss) | 91 | (21) | (9) |
| Retirement plan and other retiree benefit adjustments | 87 | 82 | 12 |
| Translation adjustments | (438) | 128 | (108) |
| Benefit (provision) for income taxes on components of other comprehensive income | (61) | (10) | 3 |
| Total other comprehensive income (loss), net of tax | (321) | 179 | (102) |
| Comprehensive income | 2,087 | 3,054 | 594 |
| Comprehensive income attributable to noncontrolling interests: | |||
| Net earnings | (7) | (12) | (12) |
| Translation adjustments | 4 | (1) | 0 |
| Total comprehensive income attributable to noncontrolling interests | (3) | (13) | (12) |
| Comprehensive loss (income) attributable to redeemable noncontrolling interest: | |||
| Net loss (earnings) | (11) | 7 | 0 |
| Translation adjustments | 25 | 17 | 0 |
| Total comprehensive loss attributable to redeemable noncontrolling interest | 14 | 24 | 0 |
| Comprehensive income attributable to The Estee Lauder Companies Inc. | 2,098 | 3,065 | 582 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending June 30, 2022 10-K (Filed: Aug 24, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2022 | June 30, 2021 | June 30, 2020 | |
| Cash flows from operating activities | |||
| Net earnings | $ 2,408 | 2,875 | 696 |
| Adjustments to reconcile net earnings to net cash flows from operating activities: | |||
| Depreciation and amortization | 727 | 651 | 611 |
| Deferred income taxes | (149) | (230) | (143) |
| Non-cash stock-based compensation | 331 | 327 | 213 |
| Net loss on disposal of property, plant and equipment | 8 | 23 | 20 |
| Non-cash restructuring and other charges | 14 | 76 | 20 |
| Pension and post-retirement benefit expense | 78 | 95 | 82 |
| Pension and post-retirement benefit contributions | (56) | (59) | (73) |
| Goodwill, other intangible and long-lived asset impairments | 241 | 188 | 1,426 |
| Changes in fair value of contingent consideration | 0 | (2) | (17) |
| Gain on previously held equity method investment | (1) | (847) | (534) |
| Other non-cash items | (7) | (20) | (10) |
| Changes in operating assets and liabilities: | |||
| Decrease (increase) in accounts receivable, net | (10) | (398) | 625 |
| Increase in inventory and promotional merchandise | (602) | (140) | (3) |
| Decrease (increase) in other assets, net | (101) | 13 | (212) |
| Increase (decrease) in accounts payable | 210 | 440 | (308) |
| Increase (decrease) in other accrued and noncurrent liabilities | 1 | 695 | (169) |
| Increase (decrease) in operating lease assets and liabilities, net | (52) | (56) | 56 |
| Net cash flows provided by operating activities | 3,040 | 3,631 | 2,280 |
| Cash flows from investing activities | |||
| Capital expenditures | (1,040) | (637) | (623) |
| Proceeds from purchase price refund | 0 | 32 | 0 |
| Payments for acquired businesses, net of cash acquired | (3) | (1,065) | (1,047) |
| Purchases of investments | (10) | (42) | (5) |
| Settlement of net investment hedges | 108 | (152) | (23) |
| Net cash flows used for investing activities | (945) | (1,864) | (1,698) |
| Cash flows from financing activities | |||
| Proceeds (repayments) of current debt, net | (4) | (744) | 755 |
| Proceeds from issuance of long-term debt, net | 0 | 596 | 2,481 |
| Debt issuance costs | (1) | (4) | (18) |
| Repayments and redemptions of long-term debt | (18) | (459) | (513) |
| Net proceeds from stock-based compensation transactions | 151 | 215 | 180 |
| Payment for acquisition of noncontrolling interest | (15) | 0 | 0 |
| Payments to acquire treasury stock | (2,309) | (733) | (893) |
| Dividends paid to stockholders | (840) | (753) | (503) |
| Payments to noncontrolling interest holders for dividends | 0 | (8) | (10) |
| Payments of contingent consideration | 0 | (2) | (18) |
| Net cash flows provided by (used for) financing activities | (3,036) | (1,892) | 1,461 |
| Effect of exchange rate changes on Cash and cash equivalents | (60) | 61 | (8) |
| Net increase (decrease) in Cash and cash equivalents | (1,001) | (64) | 2,035 |
| Cash and cash equivalents at beginning of year | 4,958 | 5,022 | |
| Cash and cash equivalents at end of year | 3,957 | 4,958 | 5,022 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ESTEE LAUDER COMPANIES INC | ||
Ticker: EL Fiscal Year: 2022 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending June 30, 2022 10-K (Filed: Aug 24, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| June 30, 2022 | June 30, 2021 | |
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $ 3,957 | 4,958 |
| Accounts receivable, net | 1,629 | 1,702 |
| Inventory and promotional merchandise | 2,920 | 2,505 |
| Prepaid expenses and other current assets | 792 | 603 |
| Total current assets | 9,298 | 9,768 |
| Property, plant and equipment, net | 2,650 | 2,280 |
| Other assets | ||
| Operating lease right-of-use assets | 1,949 | 2,190 |
| Goodwill | 2,521 | 2,616 |
| Other intangible assets, net | 3,428 | 4,095 |
| Other assets | 1,064 | 1,022 |
| Total other assets | 8,962 | 9,923 |
| Total assets | 20,910 | 21,971 |
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Current debt | 268 | 32 |
| Accounts payable | 1,822 | 1,692 |
| Operating lease liabilities | 365 | 379 |
| Other accrued liabilities | 3,360 | 3,195 |
| Total current liabilities | 5,815 | 5,298 |
| Noncurrent liabilities | ||
| Long-term debt | 5,144 | 5,537 |
| Long-term operating lease liabilities | 1,868 | 2,151 |
| Other noncurrent liabilities | 1,651 | 2,037 |
| Total noncurrent liabilities | 8,663 | 9,725 |
| Commitments and contingencies | ||
| Redeemable Noncontrolling Interest | 842 | 857 |
| Equity | ||
| Common stock, $.01 par value; Class A shares authorized: 1,300,000,000 at June 30, 2022 and June 30, 2021; shares issued: 467,949,351 at June 30, 2022 and 462,633,034 at June 30, 2021; Class B shares authorized: 304,000,000 at June 30, 2022 and June 30, 2021; shares issued and outstanding: 125,542,029 at June 30, 2022 and 128,242,029 at June 30, 2021 | 6 | 6 |
| Paid-in capital | 5,796 | 5,335 |
| Retained earnings | 13,912 | 12,244 |
| Accumulated other comprehensive loss | (762) | (470) |
| Stockholders' equity before treasury stock | 18,952 | 17,115 |
| Less: Treasury stock, at cost; 236,435,830 Class A shares at June 30, 2022 and 229,115,665 Class A shares at June 30, 2021 | (13,362) | (11,058) |
| Total stockholders equity The Estee Lauder Companies Inc. | 5,590 | 6,057 |
| Noncontrolling interests | 0 | 34 |
| Total equity | 5,590 | 6,091 |
| Total liabilities, redeemable noncontrolling interest and equity | 20,910 | 21,971 |
| External Links | |
| ESTEE LAUDER COMPANIES INC (EL) Fiscal Year 2022 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |